Data shows that 86.20% of traders are net long, with the bullish-to-bearish ratio standing at 6:25 to 1 at the time of writing. The tally of clients who are net long has increased by 15.15% since yesterday and by 8.53% over the previous week, while the number of net-short traders has decreased by 27.36% compared to the previous session and by 20.28% from the preceding week.
Taking a contrarian view of crowd sentiment, the heightened bullish positions on AUD/USD indicate the potential for further declines in the pair. It’s crucial to note that traders remain more net-long than they were both yesterday and in the previous week. Taking these aspects into account, the current positioning, combined with recent sentiment shifts, suggests a robust contrarian trading bias favoring a bearish outlook for AUD/USD.